Chicago Fed President Austan Goolsbee, known as one of the Fed's most consistent doves on monetary policy, appears poised to take a more patient stance when assessing future rate cuts, according to a media report.

Federal Reserve Bank of Chicago President Austan Goolsbee said he sees continued improvement in inflation and is optimistic the central bank can tame price growth without sparking an economic downturn.

Austan Goolsbee said that rates are still above the so-called neutral rate of interest — where policy neither weighs on nor stimulates the economy.

"I still see continued progress" in inflation, Chicago Fed President Austan Goolsbee said on Wednesday at a Wisconsin Bankers Association event. "The trend continues to be improvement in inflation." Today's CPI number is "somewhat encouraging and partly discouraging,